Will My Company Pay For My MBA?
Your Employer-Sponsored MBA
Some employers might pay for a team member's MBA because it is a valuable investment, and as such, often expect a return on their expenditure. They will often require you to stay at the company for a predetermined number of years, which are often laid out in a contractual agreement.
This type of MBA assistance is usually offered in the form of reimbursement, and may be contingent upon degree completion or even be grade sensitive.
Will My Company Pay For My MBA?
This may differ depending on the MBA program. Pepperdine Graziadio offers several different MBA programs for every type of schedule. For emerging executives we offer the Executive MBA, and for seasoned, C-level executives, we provide the first of its kind Presidents and Key Executives MBA program. Potential students who are interested in taking daytime classes might be interested in the Full-Time MBA program, and for busy professionals looking for a part-time program, we offer the Fully Employed MBA program, boasting classes in the evenings and on weekends,The only way to know whether your employer will pay for your degree is to ask. If you're uncomfortable approaching your boss or supervisor with the initial round of questions, speak with your human resources department. These individuals should know the organization's policy, as well as where the MBA funds are accessed (department vs. organization), which can be instrumental in making your case for candidacy.
Once you have a clear idea of what is possible, you can then research MBA programs and costs, and make an informed pitch as to why an investment in your personal and professional betterment will also better the company.
Will they pay for everything?
Most companies that sponsor employees' education set a cap on MBA tuition and expenses, or are willing to commit to a percentage of the employees' tuition. Some major corporations have tuition reimbursement programs in the 75 percent to 100 percent range, while others have dollar caps that range from $5,000 to $40,000. You will want clarity on these parameters before applying to schools you might not be able to afford even with company assistance.
How to Ask for Sponsorship?
When requesting your employer to sponsor your MBA, be sure to articulate what the company will gain from your studies. In a part-time MBA program, knowledge and skills obtained in the classroom on Saturday can be applied directly to your job on Monday. Better still, experience-driven programs like the Pepperdine Graziadio Part-Time MBA involve hands-on projects in which students can use their current company as a real-time case study. Your employer will experience the benefits of your education long before you graduate.
Emphasize that the reasons you are requesting your company's assistance are inspired by the company itself. Be clear about what you've learned on the job about your strengths and interests, and how you intend to develop and apply them long term.
While it is entirely possible that you will move on shortly after you've fulfilled your post-MBA contractual commitments to your employer, that should never be the focus of the conversation. Mutual benefits and ongoing growth are the keys to securing your yes.
If They Say No
While larger companies might have programs in place that guarantee educational sponsorship if you've been working full-time for a requisite number of years, others will be selective, and some might not yet offer MBA reimbursement as an option. If you are serious about pursuing an MBA, the possibility of a "no" should not deter you from asking. Your initiative in bettering yourself will no doubt impress your supervisors. They will know you are increasing your viability and visibility in the job market, and might just work a little harder to hold on to you. There are always other financial assistance programs to explore, including scholarships, grants, and endowments, which can help pay for an MBA while you maintain your current employment.
With multiple MBA programs, Pepperdine Graziadio has plenty of options to fit any schedule, including choices for full-time students, working professionals, and emerging or seasoned executives. If you still have questions about financing your MBA, don't hesitate to contact our financial aid office, where our qualified financial aid professionals are more than happy to answer any questions you might have.